Franchising.net.au:
Allied Brands has made another acquisition, bringing Steinhoff Asia Pacific’s Freedom Home & Cafe stores and the Bayswiss business into its stable of franchised brands.
The 14 stores will be rebranded to Villa & Hut, a 25 store chain acquired by the group earlier this year. The process of transferring the outlets will begin mid November and is likely to take six months to complete.
Shane Radbone, Allied Brands’ managing director, told Franchising “This is an opportunity to rebadge. The stores were company run but we will be looking to franchise them over the next nine months.”
Radbone said the new franchises will require investment between $200,000 and $300,000.
Allied Brands paid nothing for the businesses but is raising $1.6 million to purchase fixtures, equipment and stock for the new stores.